SCHEDULES
SCHEDULE 1Consequential amendments
Part 1Income and Corporation Taxes Act 1988
265
In section 646(2) (meaning of “relevant net earnings”)—
a
in paragraph (a) for “section 74(m), (p) or (q)” substitute “
section 51 of ITTOIA 2005
”
,
b
after that paragraph insert—
aa
deductions in respect of any annuity or other annual payment (other than interest) payable out of his profits;
c
in paragraph (bb) for “section 332(3) of this Act” substitute “
section 159 of ITTOIA 2005
”
.